| | Business Summary | | XCL
Ltd.
is
engaged
principally
in
the
exploration
for
and
the
development
and
production
of
crude
oil
and
natural
gas
in
The
People's
Republic
of
China.
The
Company's
exploration
and
development
efforts
are,
at
this
time,
focused
primarily
on
the
Zhao
Dong
and
Zhang
Dong
Blocks
in
the
shallow-water
sea
area
of
Bohai
Bay
in
China.
XCL's
activities
on
the
Zhao
Dong
Block
have
been
undertaken
pursuant
to
an
exploration
and
production
joint
venture
with
China
National
Oil
and
Gas
Exploration
and
Development
Corporation
(CNODC),
a
subsidiary
of
China
National
Petroleum
Corporation
(CNPC),
one
of
the
national
oil
companies
of
China.
Based
on
the
initial
success
of
its
first
project
in
China,
the
Company's
growth
strategy
is
to
expand
its
participation
in
the
Chinese
energy
industry
by
continuing
to
explore
and
develop
the
Zhao
Dong
Block
and
by
selectively
entering
into
additional
energy
related
joint
ventures. | | More
from
Market Guide: Expanded
Business Description |
| | Financial Summary | | XCL,
Ltd.
is
engaged
in
the
exploration
for
and
the
development
and
production
of
crude
oil
and
natural
gas.
For
the
nine
months
ended
9/30/99,
revenues
remained
unchanged
at
$0.
Net
loss
applicable
to
Common
rose
16%
to
$12
million.
Revenues
and
operating
expenses
associated
with
oil
and
gas
properties
held
for
sale
have
become
insignificant.
Higher
loss
reflects
increased
interest
expense
due
to
the
discount
amortization
of
the
XCL
land
Ltd.
secured
notes. | | More
from
Market Guide: Significant
Developments |
| | Officers | | John
T. Chandler,
Vice
Chmn.
Danny
M. Dobbs,
Pres./COO
John
H. Haslam,
Treas.
Lisha
C. Falk,
Secy. | More
from
Market Guide on Officers & Directors:
Expanded
List, Bios,
Compensation,
Options
|
|
